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Beeline Broking Review
In the field of discount broking, Beeline Broking and its review is another name that is quite popular among traders and investors.
The most distinctive part of Beeline is that it is based on a hybrid model which means it offers both conventional brokerage plans as well as discount brokerage plans. These brokerage plans are available in segments including Equities F&O, Currency F&O and MCX Futures. The brokerage is fixed at a charge of Rs 18 per executed order in Discount Brokerage Plan and as per margin in conventional brokerage plan for Equity Delivery and Intraday segments.
Beeline allows its clients to trade & invest across segments including Equity, Derivative, Currency Derivatives, Commodity and Insurance at BSE, NSE, MCX, and NCDEX exchanges.
Based out of Ahmedabad in the state of Gujarat, Beeline started offering its services in 2015. The broking firm is a registered member of SEBI and Stock Exchanges. Beeline offers commodity trading through a group company Beeline Commodities Pvt Ltd which is member of MCX and NCDEX.
Beeline is promoted by Mr.Vanesh Panchal, Mr.PradeepSandhir and Mrs. Khushbu Shah. Beeline has offices in Ahmedabad and Gandhinagar in Gujrat.
Beeline has joined hands with NSDL, a repository that has all your insurance policies in demat format. The broker helps its clients open an e-insurance account (e-IA) absolutely at zero cost. You can buy as many insurance policies under the same demat account. You can also pay your premiums, check your portfolio and make changes to your policy online, which is truly distinctive.
The discount online brokerage services of Beeline are 60% to 90% inexpensive in comparison to traditional brokers in Equity F&O, MCX Futures and Currency F&O.
Registered at Beeline Broking Ltd.: SEBI Reg.No : INZ000000638 (NSE / BSE )
TM ID: NSE-90039, BSE-6582
Beeline Commodities Pvt. Ltd: INZ000084238
FMC Reg.No. MCX/TM/CORP/2059
Beeline Commodities Pvt. Ltd.: SEBIReg.No: INZ000084238 (MCX/NCDEX)
TM ID: MCX -55235, NCDEX – 01170
FMC Reg.No.: NCDEX / TM / CORP/1136
FMC Reg.No. MCX/TM/CORP/2059
Beeline Broking Review is rated 4.0 of 5 based on 2 customer reviews
Process to Open an account at Beeline Broking
A user needs to open a trading account at Beeline Broking to trade in Equity, Currency and Commodity. However, if there is a need to invest in Equity, a demat account needs to be opened.
Contrary to majority of other broker sin discount broking category, Beeline doesn’t offer e-KYC / Aadhar based paperless instant account opening. In spite of that, the account opening with Beeline is quick and easy.
- Request Application Forms
- Browse Beeline website and click on ‘Open an Account’ button.
- Furnish your Name, Email address and phone number.
- Beeline sales team will get back you to walk you through the account opening process.
- You could also down the application forms from its website in PDF format.
- Visit Beeline Ahmadabad Office (at Navrangpura)
If you live in Ahmedabad, visit the office of Beeline to fill the application form or request a sales representative to visit you at your location.
Beeline Account Opening Status
After Beeline team gets your signed account opening forms along with the required documents, it typically takes one day to open the account. If you wish to know the status of your account opening form, you could call the customer care number 079 66664040.
Customer gets a welcome email with detail about the account once it’s opened.
Beeline Account Opening Forms Download
Beeline Trading and Demat PDF Account Opening Forms can be downloaded from the Beeline website for. Users could download the PDF forms, print it, fill it, sign it and send it through courier and the beeling broking review is good by customer.
You could also call Beeline and get the PDF form in email or paper form dispatched to you.
Following supporting documents are required to open individual trading & demat account with Beeline:
- PAN Card (Permanent Account Number)
- Aadhaar card
- Bank Proof
Account Opening Charges
- Beeline Account Opening Charges (Trading Acct): Nil
- Beeline AMC Charges (Trading Acct): Nil
- Beeline Account Opening Charges (Demat Acct): Nil
- Beeline AMC Charges (Demat Acct): Zero AMC with one time ₹876 fee
Beeline Trading Platforms
Beeline Broking offers its trading platforms for users available on desktop, browser and mobile. NSE NOW for terminal-based trading, NSE NOW Web for browser-based trading and NSE NOW for mobile-based trading. All three trading softwares are licensed by NSE for use by Beeline Broking.
NSE NOW Desktop
This is a widely used trading platform and is primarily meant for high frequency traders. It is a terminal-based trading software provided by NSE and can be installed on a desktop or laptop. It ensures that traders perform stock trading at high speeds without any deficiency in performance. Some of the major features of this platform are:
- Real-time availability of market quotes and trends
- Highly encrypted and secure trading landscape with two-level authentication
- Place, modify or cancel orders
- Easy access to Order book, Trade book and Position book
NSE NOW is another offering by Beeline. It is a web browser-based trading platform and can be accessed from any browser omitting the need for installation or downloading. This web-based trading platform is initially developed by NSE and Beeline has the license for its usage. Both traders and investors can easily choose to perform stocking trading using this browser-based trading platform.
NSE NOW trading platform is quite easy and flexible to use. As it has been used by traders since long time, it has carved a niche in the market due to its salient features like:
- Easy access to NSE servers directly without any third-party server hindrance. This ensures high speed stock trading without any lags.
- Timely alerts and notifications as per client’s preferences and trading patterns. Even one can choose to get notification on mobile phone through SMS or email
- Quicker access to advanced charts that makes easier for make sound decision making prior to trading or investing
NSE NOW Mobile Trading App
NSE NOW Mobile App provides all the features of a fully developed online trading platform, right at your smartphone. It simply means easy stock trading no matter where you’re. Check and evaluate the markets and Trade from anywhere and everywhere. Really fast streaming quotes and charts, even at slow internet speed. You can download mobile app from Google play store and Apple iOS.
The main features of the smartphone app are:
- Detailed market trends and monitoring information
- Real-time access to market quotes, market watch and charts
- Comprehensive information on market changers both on the gainers as well as losers’ sides
However, there are some concerns associated with NSE Mobile app like:
- Low update frequency cycle
- Ordinary user experience
- No new technical inclusions
Beeline Customer Care
Beeline offers customer services to its clients through following communication channels:
- LIVE Chat
It is not only the limited number of communication channels that make this a drawback for the discount broker, but the overall customer care team’s performance is far below standard. This is one area where the discount broker really needs to work hard to win the trust of its customers by making itself available for any query they have.
Beeline offers both – per order brokerage and percentage-based brokerage. Per order is at Rs 18 per executed order for all the segments but percentage-based brokerage can be picked using brokerage bidding page online. The brokerage of per order of Rs 18 is quite understandable. It is although a bit loweras compared to Zerodha, UpStoxs,SAMCO, Fyers (@ Rs 20), higher then ProStocks and TradeSmartOnline (@ Rs 15), SASOnline, RKGlobal (@ Rs 9), 5Paisa and MyValueTrade (@ Rs 10).
Account Opening Charges
Demat Account Charges
The exposure or margin details of Beeline is given below.
Beeline Broking doesn’t provide online submissions for IPO through its online trading platform. Beeline customers can choose to invest in IPOs by:
- Applying right through their online bank account by linking your Beeline Demat account to it. Most banks including ICICI Bank, HDFC Bank, SBI Banks, Axis bank etc. provide option to invest in IPO’s through their banking portal. It’s easy and convenient to apply in IPO through this.
- Offline by signing the forms and forwarding it to beeline office in Ahmedabad.
Beeline has a regular rewarding scheme underwhich the broker rewards participant with e-vouchers for forecasting the daily closing of indices future, currency future and commodity future of the current month making it fun and adventurous too.
The participant who makes the closest predictions on either side of the given figure is the winner. Beeline also value the contribution by their client and based on their contribution in terms of Client referral, Sub broker/ Associate Program/ Remisier referral, Participation in a survey/giving us feedback & Brokerage generated which helps in adding client base. Based on your contribution Beeline allocate reward points to their clients. Generally, 2% of the average monthly brokerage gets transformed into reward points. The reward points that their clients gather can be redeemed on a monthly or quarterly basis. For more details, log on to their website beelinebroking.com.
Beeline is primarily considered as the first discount broker in India that offers both conventional brokerage plans as well as discount brokerage plans. In a short period of time, the broker has managed to make its presence felt in the stock trading area. For both beginners as well as high frequency traders, Beeline is a good option to go with.
In terms of customer service, the broker provides average results. As its trading platforms are sourced by NSE, you can be rest assured about their performance.